BUSINESS SEGMENTS AND RELATED INFORMATION (Tables)

9 Months Ended

Feb. 23, 2020

Segment Reporting [Abstract]

Schedule of Segment Operations

General corporate expense, net interest expense, and income taxes have been excluded from segment operations.

	Thirteen weeks ended						Thirty-nine weeks ended
	February 23, 2020			February 24, 2019			February 23, 2020			February 24, 2019
Net sales
Grocery & Snacks	$	1,022.9		$	1,129.8		$	3,143.0		$	2,901.0
Refrigerated & Frozen		1,076.8			1,094.3			3,204.2			2,636.2
International		220.9			228.3			659.6			640.4
Foodservice		234.4			254.7			759.7			747.6
Total net sales	$	2,555.0		$	2,707.1		$	7,766.5		$	6,925.2
Operating profit
Grocery & Snacks	$	199.4		$	225.0		$	614.8		$	623.2
Refrigerated & Frozen		190.7			189.1			533.7			441.4
International		22.3			29.9			73.5			89.7
Foodservice		27.2			36.8			96.6			98.8
Total operating profit	$	439.6		$	480.8		$	1,318.6		$	1,253.1
Equity method investment earnings		10.4			12.7			50.3			66.6
General corporate expense		75.1			62.6			262.3			386.8
Pension and postretirement non-service income		(16.4	)		(9.8	)		(37.2	)		(29.7	)
Interest expense, net		117.7			130.9			361.8			260.5
Income tax expense		68.9			67.2			141.5			147.0
Income from continuing operations	$	204.7		$	242.6		$	640.5		$	555.1
Less: Net income attributable to noncontrolling interests		0.3			0.6			1.8			1.4
Income from continuing operations attributable to Conagra Brands, Inc.	$	204.4		$	242.0		$	638.7		$	553.7

The following table presents further disaggregation of our net sales:

	Thirteen weeks ended				Thirty-nine weeks ended
	February 23, 2020		February 24, 2019		February 23, 2020		February 24, 2019
Frozen		910.3		899.0		2,600.6		2,053.4
Other shelf-stable		639.1		723.5		1,921.0		1,810.6
Snacks		383.8		406.3		1,222.0		1,090.4
Foodservice		234.4		254.7		759.7		747.6
International		220.9		228.3		659.6		640.4
Refrigerated		166.5		195.3		603.6		582.8
Total net sales	$	2,555.0	$	2,707.1	$	7,766.5	$	6,925.2

Schedule of Net Derivative Gains (Losses) from Economic Hedges of Forecasted Commodity Consumption and Foreign Currency Risk

The following table presents the net derivative gains (losses) from economic hedges of forecasted commodity consumption and the foreign currency risk of certain forecasted transactions, under this methodology:

	Thirteen weeks ended						Thirty-nine weeks ended
	February 23, 2020			February 24, 2019			February 23, 2020			February 24, 2019
Gross derivative gains (losses) incurred	$	(5.7	)	$	0.8		$	(12.5	)	$	(3.4	)
Less: Net derivative gains (losses) allocated to reporting segments		(1.9	)		1.0			(3.3	)		0.4
Net derivative losses recognized in general corporate expenses	$	(3.8	)	$	(0.2	)	$	(9.2	)	$	(3.8	)
Net derivative losses allocated to Grocery & Snacks	$	(0.9	)	$	—		$	(1.5	)	$	(1.0	)
Net derivative losses allocated to Refrigerated & Frozen		—			(0.2	)		(0.7	)		(0.7	)
Net derivative gains (losses) allocated to International		(0.8	)		1.3			(1.1	)		2.4
Net derivative losses allocated to Foodservice		(0.2	)		(0.1	)		—			(0.3	)
Net derivative gains (losses) included in segment operating profit	$	(1.9	)	$	1.0		$	(3.3	)	$	0.4